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JCL
December 19, 2023
Question

Adding a custom taxable fringe benefit to QB Online payroll

  • December 19, 2023
  • 1 reply
  • 0 views

I'm trying to add a customized taxable fringe benefit to QB Online Payroll. I was able to add the pay type to the specific employee who will receive the fringe benefit. I'm not finding where to go to make sure the item is journaled appropriately in my books and also that it shows up on the employees W2 under box 14 'other'. Does anyone have any experience with this? Thanks!

    1 reply

    MariaSoledadG
    MariaSoledadG
    December 19, 2023

    I have some information with custom fringe benefits. This will guide you with the process, JCL.

     

    QuickBooks Online Payroll (QBOP) has several preset fringe benefits that you can choose from. For now, these are the only list of fringe benefits that QBO supports:

     

     

    You'll want to use the most related fringe for your employees. Also, please make sure to associate the right fringe benefit when creating a paycheck before the end of the calendar year so it can be taxed and recorded appropriately in QuickBooks and reported on your employees’ W-2s.

     

    Additionally, if you want to take a closer look at your business finances and employees, QuickBooks offers a variety of reports, so it shows up the right data. To know more, read this article for more details: Run Payroll Reports.

     

    You can always post your reply if you have further questions about fringe benefits. Remember, the Community is always here to assist you 24/7.

    R
    rkmort103
    January 10, 2024

    There are other fringe benefits that our company provides and they do not at all fit these categories. How do we ensure these are reported correctly?

    Nicole_N
    Nicole_N
    January 11, 2024

    I'll share some insights about fringe benefits in QuickBooks Online Payroll (QBOP), rkmort103. 

     

    Please know that the QBO Payroll doesn't support other fringe benefits. For now, these are the only supported lists in QuickBooks:
     

     

    If you need to set up a fringe benefit in QBOP, I suggest contacting the IRS to obtain detailed information about the specific fringe benefits that closely align with the supported benefits in QuickBooks.

     

    Moreover, I'm adding this article to understand how you report the total annual wages to your employees: Understanding W2 forms.

     

    The Community is here to help if you have further questions about adding fringe benefits to paychecks. 

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